The Association of Mining and Exploration Companies (AMEC) has welcomed the recently released Queensland Resources Industry Development Plan (QRIDP), which includes $68.5 million in funding to support the development of the new economy mineral industry and improve regulatory efficiencies.
The QRIDP is a 30-year plan, supported by 43 actions from across the government. The plan addresses six key focus areas:
- Growing and diversifying the industry
- Strengthening environmental, social and governance credential
- Protecting the environment
The QRIDP includes financial commitments released in the 2022-23 State Budget namely:
- $46.2 million to boost exploration, geoscience and the circular economy
- $22.6 million over five years for the Collaborative Exploration Initiative
- $10 million over two years for Geophysics for Discovery
- $5 million over two years for Better Defining our New Economy Mineral Potential
- $5 million over two years for Circular Economy in Mining
- $5.7 million for the Resource Centre of Excellence to create a Future Industries Delivery Hub
- $5 million for the development of a Queensland Battery Industry Strategy
- $3.3 million to support Queensland’s resource sector workers to grow their skills
Over $4.9 million to support regulatory efficiency improvements; most of which will be invested in a Queensland Law Reform Commission, and $1.59 million into assessment and approval improvements.
AMEC CEO, Warren Pearce, said the company welcomed the release of the QRIDP and the millions in funding.
“AMEC strongly supports the QRIDP’s vision and ambition and will work closely with the Department of Resources in its execution and implementation,” Mr Pearce said.
Other key initiatives in the QRIDP that AMEC advocated for successfully and included in the plan are:
- Rent deferral for the first year’s rent for new economy mineral mining leases that meet certain criteria
- A new economy mineral regulatory process to help ensure a streamlined approach for these projects, the intention being to ensure regulatory assessment is fit-for-purpose, which is critical to accelerate new project development
- Delivery of the $10 million common user infrastructure mineral processing demonstration facility, the first mineral to use the facility being vanadium
AMEC’s contribution to the QRIDP was acknowledged by the Queensland Minister for Resources, Scott Stewart, who thanked the Association and stated that he looked forward to continuing this positive relationship in the plan’s implementation.
